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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $21,057 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $53,102 | $38,833+36.7% | $78,778-32.6% | $77,958-31.9% |
| Participation rate | 29.9% | 60.9%-31.0pp | 69.2%-39.3pp | 71.6%-41.7pp |
| Annual return | 18.10% | 20.31%-2.2pp | 35.62%-17.5pp | 20.87%-2.8pp |
| Employer contribution / active EE | $93 | $840-88.9% | $1,986-95.3% | $2,310-96.0% |
| Participant deferral / active EE | $1,932 | $1,776+8.8% | $2,958-34.7% | $3,537-45.4% |
| Admin fee / account holder | $145 | $89+62.9% | $5,134-97.2% | $97+48.9% |